Coldest – Thawing in Ice Water on Shark Tank

On a hot summer day, nothing is more refreshing than ice cold water. This simple, elusive pleasure is exactly what David Stark wanted to provide when he founded Coldest. Their main product is a water bottle that keeps drinks cold for 36 to 100 hours. Despite strong sales, David and Joe Shark were unable to close a deal. After Shark Tank, Coldest was valued at around $10 million.

Founder

David is the founder and CEO of this Florida-based company. With his technical background, he works as an engineer/inventor. He is the lifeblood of the company and often works 19-hour days. The entrepreneur graduated from Florida State University with a degree in engineering.

Twin brother Joe is a marketing executive and former civil engineer. He built bridges for the state of Connecticut, but starting businesses was his true passion. Prior to starting Coldest, he had failed in 10 business ventures.

The coldest

The company was founded in 2014 and started out in a garage. The first few years were tough and all the cash was reinvested into the business. In 2017, David moved the warehouse to a 2,500 square foot warehouse in an isolated area. Joe joined the company in 2018 and it was a pivotal moment.

By 2020, they expanded into other refrigerated products. In 2021, they opened a new 15,000 square foot warehouse. The pandemic brought unexpected challenges, but it also proved to be a silver lining as the company saw a significant increase in demand. In August 2021, Coldest moved into a 15,000 square foot warehouse in Fort Myers and opened its first retail store at Coastland Mall in Naples.

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Post-Shark Tank

As the show just aired, Coldest is well prepared for a surge in orders. They should also be profitable by 2024 and are focused on reducing SKUs.

You can buy water bottles at coldest.com, and their best-selling products include the Coldest Gallon Jug and the Sports Bottle. Plus, the site has 150,000 verified customer reviews! Based on the sales, it’s clear that Joe is a talented digital marketer.

Looking to the future, Coldest is not content to be a product-based company. The founders have ambitious plans to build Coldest World, a theme park designed to provide an immersive experience of the brand’s world. This bold plan is to be completed by 2030.

From a humble garage shop to Shark Tank, Coldest tells a fascinating story of entrepreneurial spirit. As the business continues to grow, its founders remain committed to making the world a cooler place, one bottle at a time.

Categories: Shark Tank
Source: dut.edu.vn

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